Tax credits

The service has updated its systems to detect invalid claims for the Child and Dependent Care Credit and the EITC.

The service posted a fact sheet Friday on tax credits for renewable energy projects under the Inflation Reduction Act.

Two provisions from the Inflation Reduction Act are already having an impact on encouraging this kind of business in the U.S.

A top renewable power trade group endorsed rigorous requirements for a new hydrogen tax credit that would rule out the use of electricity from older wind, solar and nuclear facilities.

The service had to scramble to reconcile the advance payments of the Child Tax Credit it distributed in 2021 with the amounts later reported by recipients.

The IRS has put out proposals on new regs around rules from the two pieces of legislation.

Congress' move to shift $21.4 billion in funding away from the service as a condition for increasing the debt limit isn't deterring the tax agency from its plans.

Panasonic and LG are likely to benefit the most from tax credits under the Inflation Reduction Act.

A wave of new legislative proposals touch on a number of tax-related issues.

The change brings the total number of EV models eligible for the full tax credits to 22.

The Work Opportunity Tax Credit can help offset labor shortage issues.

In a twist that most asset managers could only dream of, investment funds are reaping profits through the Internal Revenue Service.

Elon Musk is getting more firepower for his electric-vehicle price war thanks to tax credits in the president's signature climate legislation.

The company has leveraged newly expanded tax credits to secure institutional financing for 49 community solar and battery storage projects in rural areas across six states.

Exploring a free filing system, encouraging taxpayers to take advantage of the EITC and issuing refunds for overpayments on unemployment are among the latest IRS policy stories.

The service is warning businesses to beware of schemes promoting abuse of the Employee Retention Credit.

Some Senate Democrats are pushing the Biden administration to impose tough limits on hydrogen tax credits they say will ensure the fuel lives up to its climate-fighting potential.

The Inflation Reduction Act encourages automakers to manufacture electric cars in the U.S.

Members of the Senate and House introduced bipartisan legislation to build more housing with the credit.

The Inflation Reduction Act made major changes to the tax breaks available for clean energy activities.